Financial Planning Questionnaire Financial Services and Markets Act 2000 Independent Financial Advisers are required to have proper regard for a client’s best interests in any advice given. They must therefore do their utmost to ensure that they are aware of your personal and financial circumstances so that their advice is the most suitable for your needs. The questions here have been specifically designed to help your adviser provide advice that meets your needs. If, for any reason, you decline to answer any or all of the questions or if you fail to provide true and accurate information to the best of your knowledge, the advice given subsequently may not be best advice, as it can only be based on the information provided. PNM Financial Management is a trading name of P N Morris Financial Management who are authorised and regulated by the Financial Conduct Authority Name of client Date: Completed by:
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Financial Planning Questionnaire
Financial Services and Markets Act 2000
Independent Financial Advisers are required to have proper regard for a client’s best interests in any advice given. They must therefore do their utmost to ensure that they are aware of your personal and financial circumstances so that their advice is the most suitable for your needs. The questions here have been specifically designed to help your adviser provide advice that meets your needs. If, for any reason, you decline to answer any or all of the questions or if you fail to provide true and accurate information to the best of your knowledge, the advice given subsequently may not be best advice, as it can only be based on the information provided.
PNM Financial Management is a trading name of P N Morris Financial Management who are authorised and regulated by the Financial Conduct Authority
Name of client
Date:
Completed by:
1
Customer Agenda
Your service preferences as follows:
Review of your full current financial situation with an overview to other areas
Repaying your Mortgage / Raising Finance with an overview to other areas
Protecting your Income to ensure that you have enough money to meet your monthly requirements should you be unable to work due to accident or illness for a prolonged period of time.
with an overview to other areas
Protecting your Family to ensure that in the event of you or your partner’s death or the diagnosis of a critical illness, your family has enough money to provide for their on-going financial needs.
with an overview to other areas
Retirement Lifestyle to ensure that you (and your partner) have sufficient income in retirement to afford the lifestyle that you want.
with an overview to other areas
Regular Savings ensuring that you have a cash emergency fund to cater for the short-term, planning regular savings aims to allow you to make structured plans for savings in general or to provide a vehicle to allow you to save towards a specific future event in the medium to long-term.
with an overview to other areas
Capital Investment giving the opportunity to optimise the returns from your investments whether their aim be tax-efficiency, maximising income or planning for growth.
with an overview to other areas
Private Medical Insurance to provide independent care either in the UK or abroad should medical treatment be required.
with an overview to other areas
Long Term Care to provide for care in your old age is a way of helping to ensure that you can afford the help you may need. For example, care can be provided in your own home or in a suitable Nursing Home should you become disabled or unable to perform some of the tasks that allow you to be independent.
with an overview to other areas
Inheritance Tax Planning to plan how to reduce any liability to inheritance tax therefore maximising the value of your estate, which can be passed to their heirs.
with an overview to other areas
Comments:
2
IMPORTANT NOTICE - Data Protection Act 1998
Information supplied may be stored on computer records and may be used for marketing and statistical purposes by members of the group of companies. Details may be passed to our regulatory authorities for the purpose of compliance.
Do you consent to this: Yes No
We would also like to keep you informed of products which may be of interest to you.
Do you wish to receive such information: Yes No
Personal Details Client Partner
Surname
First names
Title
Marital status
Date of birth
Home address
Postcode
Tel No (home)
Tel No (work)
Mobile
Email (home)
Email (work)
National Ins. No.
State of health
Smoker Yes No Yes No
Smoker Details
Units of Alcohol per week
Dependants Name Date of birth Age Relationship
1.
2.
3.
4.
Client Partner
Have you made a will? Yes No Yes No
When was it updated?
Main provisions
Executors names/address
3
Occupation Details Client Partner
Occupation
Employment status
Employer’s / Company name
Address
Postcode
Tel No.
Commencement date
Income/Expenditure Client Partner Joint
Gross annual income £ £ £
Net monthly income £ £ £
Expenditure (monthly) £ £ £
Disposable income (monthly £ £ £
Liabilities/Outgoings Client / Partner/Joint
Lender Purpose Amount End Date
Repayment pm
Mortgages/Rent
Bank overdraft
Personal loans
Hire purchase
Credit cards
Others (please specify)
Monthly outgoings e.g. food, bills, council tax, clothes, holiday etc
£
Estimated future outgoings £
Are the loans protected Yes No Total unprotected liabilities £
Client Partner Joint
Net monthly income £ £ £
Less monthly expenditure £ £ £
Net disposable income £ £ £
Notes:
4
Assets
Client Partner Joint
Home (primary residence)
Other properties
Contents & Personal Effects
Vehicles
Current accounts
Building society and deposits
National savings
TESSA/TESSA ISA
PEPs / ISAs
Investment Bonds
Unit / Investment Trusts
Stock-market shares
Loan Stocks and Gilts
Other assets
Total Assets
Notes:
5
Retirement Planning
Planning for retirement aims to ensure that you have sufficient income in retirement to afford the lifestyle that you want.
(Refer monthly expenditure sheet) Client Partner
What age would you like to retire (realistically)?
On what income (in today’s money)? £ £
Would you be interested in reviewing your pension arrangements to improve your benefits?
Yes No Yes No
Existing arrangements
Does your employer offer a pension scheme?
Yes No Yes No
Are you eligible to join a company sponsored pension scheme?
Yes No Yes No
If so, please provide details
Details of existing arrangements Client Partner
Insurance company/provider/scheme
Policy number
Commencement date
Type (money purchase/final salary/FSAVC/AVC/GPP/PPP)
Selected/Scheme retirement age
Contributions: Personal (pm/pa)
(increasing/level/waiver/contracting out)
Contributions: Employer (pm/pa)
(increasing/level/waiver/contracting out)
Pensionable salary
Fund value
Fund choice
Basis of benefits
(pension n/60ths/80ths)
Pension payable in today’s terms
Has this been written in Trust
Current or preserved
Notes:
Single person’s basic state pension £107.45 pwk / £5,587.40 pa. (2012 / 2013)
Married couple’s basic state pension £171.85 pwk / £8,936.20 pa. (2012 / 2013)
6
Mortgage Details
Lender & Address Single Joint Tenants in common
Type of loan
Repayment
Interest Only
Endowment
ISA
Other ________________ Current repayment £
Interest
Rate %
Original loan £ Original term
Balance outstanding £ Term outstanding
Redemption penalties
Are you planning to move within next 12 months? Yes No
Are you happy with your current mortgage? Yes No
Would you consider changing providers if you could improve your mortgage rate/terms?
Yes No
Do you think your mortgage protection is adequate? Yes No
Do you have critical illness cover? If not, would you be interested in adding cover to protect your loan?
Yes No
If your mortgage is to be repaid by an ISA/ endowment etc is it on course to repay your loan?
Yes No
Mortgage Protection
Do you have mortgage protection (e.g. life cover) or
a repayment vehicle Yes No
Client/Partner/Joint
Type (endowment, term ass, MPP)
Provider
Policy number
Sum assured
Life cover
Critical illness cover
Premium
Start date
Expiry date
Summary
Total mortgage cover required
Total cover provided
Shortfall
Notes:
7
Family Protection
Family protection aims to ensure that in the event of your or your partner’s death or earlier critical illness, your family has enough finances to provide for their ongoing needs.
(refer to monthly expenditure sheet)
Client Partner
In the event of your death or earlier critical illness how much income would your dependants need?
£ £
What cover, if any, do you have to provide this income?
None List below None List below
For how long? (children finish school / university / retirement etc)
What income could this provide? £ £
Shortfall £ £
Do you have any unprotected liabilities we need to take into account? If so, how much?
£
Term
£
Term
Details of Existing Arrangements
Client/Partner/Joint
Type
Life/CI/Life & CI
Provider
Policy number
Date started
Maturity/Expiry date
Premium
Premium owner
Sum assured
In trust
Beneficiary (ies)
Purpose
Notes:
Widowed parents allowance £105.95 pwk / £5,509.40 pa (2012 / 2013) maximum basic allowance.
8
Income Protection
Income protection aims to ensure that you have enough money to meet your monthly requirements should you be unable to work due to accident or illness for a prolonged period of time.
Client Partner
If you were unable to work due to sickness or accident how much income would you require to maintain your standard of living?
£ £
To what age?
What provision do you have to provide this income?
Details of Existing Arrangements
Type (PHI/ASU)
Provider
Policy number
Date started
Term/Age
Deferment period
Premium
Benefit
Period (weeks)
You
Employer
State
Total
Actual shortfall
9
Notes: Employment and Support Allowance Rates (2012 / 2013)
Weekly rate during the assessment phase The assessment phase rate is paid for the first 13 weeks of a claim while a decision is made on the capability for work through the Work Capability Assessment.
Age of claimant Weekly amount
A single person aged under 25 up to £56.25
A single person aged 25 and over up to £71.00
Weekly rate during the main phase The main phase starts from week 14 of a claim, if the Work Capability Assessment shows that the illness or disability does limit the ability to work.
Type of group Weekly amount
A single person in the Work Related Activity Group up to £99.15
A single person in the Support Group up to £105.05
10
Private Medical Insurance
The provision of medical cover for you and your family independently of the NHS.
Client Partner
Are you happy to rely on the NHS for your medical needs?
Yes No Yes No
Do you have or would you consider private medical insurance?
Yes No Yes No
Are you happy with your existing cover/provider?
Yes No Yes No
Would you be interested in looking at private medical insurance?
Yes No Yes No
Type required (single, married, family)
Cover required
Core Core plus Comprehensive
(Cover provided where NHS waiting list for treatment exceeds 6 weeks)
(All in-patient treatment using the NHS for out-patient treatment)
(Full cover, in and out-patient treatment, access to alternative consultations)
Type (single, married, family)
Provider / Insurer
Start Date
Expiry Date
Premium £ £
Notes:
11
Regular Savings
This is to ensure that you have a cash emergency fund to meet unexpected short-term expenses and for specific reasons over the medium to long term.
Client Partner
Do you save on a regular basis? Yes No Yes No
Would you like to review or increase your savings?
Yes No Yes No
What reasons might you have for saving for the future (e.g. education fees, house purchase, home improvement, holidays, weddings etc)
Over what period? months years months years
Do you think you have sufficient savings as an emergency fund?
Yes No Yes No
What amount would you require as an emergency fund?
£ £
Existing Provision
Owner
Provider
Policy number
Type
Premium
Sum assured
Current value
Start date
End date
Fund/sector
In trust?
Notes:
12
Capital Investment
Investment planning gives people the opportunity to optimise the returns from their investments whether their aim be tax-efficiency, maximising income or for growth.
Client Partner
Do you have any investments in place (PEP/ISA, stocks/shares, corporate bonds, Nat Savings etc)
Yes No Yes No
What were your reasons for these investments? (income, long-term saving, tax-efficiency, for family etc)
Would you be interested in looking at alternative investment opportunities?
Yes No Yes No
Are you considering further investments?
Yes No Yes No
Existing Plans
Owner
Provider
Policy number
Start date
Maturity date
Type/Account name
Initial investment
Current value
Purpose (income/growth)
Fund/sector
In trust
Notes
13
Long Term Care
Planning to provide care in your old age is a way of helping to ensure that you can afford the help you may need. For example, care can be provided in your own home or in a suitable Nursing Home should you become disabled or unable to perform some of the tasks that allow you to be independent.
Client Partner
Are you aware how much it costs to provide care in your area?
Yes No Yes No
How would you manage if you or a member of your family needed long-term care?
Current annual cost of private nursing care in your area.
£ £
Income Available Client Partner
State provision attendance allowance
£ £
Other allowances £ £
Pension income £ £
Net basic state pension £ £
Other net income bank/building society/investments
£ £
Total income £ £
Less cost of continued living £ £
Cost of care shortfall £ £
Details of Existing Arrangements
Self/Partner
Type
Provider
Date started
Premium
Policy owner
Sum assured
Notes:
NHS nursing care £108.70 pwk / £5652.40 pa (Standard Rate - 2012 / 2013)
Attendance allowance
Lower £51.85 pwk / £2,696.20 pa (2012 / 2013)
Higher £77.45 pwk / £4,027.40 pa (2012 / 2013)
14
Inheritance Tax (IHT)
Inheritance tax planning could ensure that your loved ones as your beneficiaries receive all or as much of your wealth and possessions after your death.
Client Partner
Are you aware of IHT? Yes No Yes No
How far is it of concern to you?
(none, some, great)
What is the current value of your estate (approx total value of all assets inc debts payable to you)
£
Are you expecting any future legacies/bequests?
Yes No
£
Yes No
£
Have you made gifts or placed assets into trust? If yes, please specify below.
Yes No Yes No
Would your executors / beneficiaries be able to pay any IHT liability?
Yes No Yes No
Summary of Total Estate
Item Client Partner Joint Total
Home (s) £ £ £ £
Contents £ £ £ £
Vehicles £ £ £ £
Collections £ £ £ £
Investments £ £ £ £
Life Assurance (not in trust) £ £ £ £
Business Assets £ £ £ £
Others £ £ £ £
Total £ £ £ £
Less borrowings e.g. mortgage £ £ £ £
Less nil rate band £325,000 £ £ £ £
Balance subject to tax @ %
£ £ £ £
Tax payable £ £ £ £
Do you have any arrangements in place to meet any IHT? E.g. discretionary will trust, whole of life policy etc.
Yes No Yes No
Existing Provision
Owner (client/partner/joint)
Provider
Policy number
Type
Premium
Sum assured
Current value
15
Start date
End date
In trust
Attitude to Risk
When addressing the solutions to fulfil your current priorities, which one of the following statements best describes your feelings towards the future:-
Risk Averse – You are a very cautious investor and are not willing to take any stock market risk. You are prepared to take the inflationary risk this implies. Examples of this type of investment would be deposit accounts.
Low – Although a cautious investor, you are prepared to accept low levels of risk for the prospect of slightly higher returns. You are not likely to want to invest in equities. Examples of this type of investment would be fixed interest securities.
Low/Medium – You will accept below average risk to achieve more attractive potential returns and would expect to invest in a balanced portfolio of assets such as equities, property and fixed interest.
Medium – You prefer a balanced approach to investment and are willing to accept average risk in the hope of higher returns. Examples of this type of investment would be Managed funds.
Medium/High – You will accept above average risk for the prospect of high returns. You are not concerned with short-term volatility. You would expect the majority of your funds to be invested in equities and may invest in funds within a specific geographical area.
High – This category is reserved for those investors who are prepared to take very high risks in order to obtain the potential for very substantial returns, although substantial falls in value may be equally as likely. Investment vehicles that fall within this category are likely to be available only through specialist investment houses and will normally require a considerable financial commitment from the investor. Examples of this type of investment would be an Emerging Markets funds.
Investment Experience
When it comes to investing, how would you describe yourself?
No understanding / knowledge
Very little understanding / knowledge
About as much understanding / knowledge as the next person
A fair degree of understanding / knowledge
A high level of understanding / knowledge
Do you have strong views on where your money is invested?
Yes No Yes No
Notes:
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Attitude to Risk (continued)
Client Priority Advisor Priority Attitude to Risk
Client Partner Client Partner Client Partner
Repaying your mortgage
Protecting your income in the event of illness.
Protecting your family in the event of your death.
Requirement lifestyle pensions
Regular savings
Capital investment
Investment income
Retirement lifestyle long term care
Private medical insurance
Inheritance tax planning
Of your net disposable income, how much are you prepared to commit to meet your priorities?
NOTE: Challenge inconsistencies / discuss clients appetite for loss of capital value.
Cash Gilts Bonds Property Equity
Income
Equity
Growth
Overseas
Equities
r i sk
17
Investment Timeframe:- When do you intend to use the invested money?
Short term (0-5 years)
Medium term (5-10 years)
Long term (10+ years)
No fixed term
Capacity for Loss:- How much of this investment could you stand to lose without having a significant impact on your standard of living?
None or very limited losses (0-5%)
Small/medium losses could be tolerated
Large losses would have a low impact on me
Investment Liquidity:- If you needed sudden access to a lump sum, how likely is it that you would need to encash this investment?
There are other savings and investments which can be used.
Access to the investment may be required
Access to the investment will definitely be required
Notes:
18
DECLARATION
I/we understand that the recommendations will be based solely on the information given by me/us in this review.
I/we confirm that we were provided with a Retail Client Agreement, Key Documents and Business Card.
I/we authorise PNM Financial Management to disclose personal data to relevant third parties to secure any investment, protection, pension or mortgage business on my/our behalf.
I/we consent to the processing and storage of personal information on computer and/or paper files and understand this information will be treated in accordance with the Data Protection Act.
We like to take care to keep our clients informed of products that may be of interest to them. If you do not wish
to receive this information in future please tick: